Medicare Part D Plans in Louisiana
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Did you know that most Medicare beneficiaries in Louisiana have Medicare prescription drug coverage through Medicare Part D? That’s right – nearly 635,000 people have Part D in Louisiana. There are almost 844,000 Medicare beneficiaries in the state, according to the Centers for Medicare & Medicaid Services (CMS).
Some facts about Medicare Part D in Louisiana
Here are some facts about Medicare Part D in Louisiana.
- There are 21 Medicare Prescription Drug Plans (PDPs) in Louisiana.
- If you already have a Medicare PDP in Louisiana, it’s often possible to switch to a less expensive plan. In fact, 85% of Louisianans who have Medicare PDPs have access to plans with lower premiums in 2018.
- Of those who have Medicare Part D coverage in Louisiana, about 55% have stand-alone Medicare Part D Prescription Drug Plans, and about 45% have Medicare Advantage Prescription Drug plans.
Source: The Centers for Medicare & Medicaid Services (CMS)
What is Medicare Part D in Louisiana?
In a nutshell, Medicare Part D in Louisiana (or in any state) is prescription drug coverage. Private insurance companies contract with Medicare to provide this coverage.
Do you take prescriptions for any health conditions? You might already know that Original Medicare (Part A and Part B) doesn’t cover most medications you’d take at home. Part A typically covers medications you take as a hospital inpatient as part of your treatment. Part B may cover prescription drugs that a health-care provider administers to you as an outpatient.
You can get Medicare Part D coverage in Louisiana in a couple of different ways (generally not both at the same time).
- If you prefer to get your Medicare benefits through a Medicare Advantage plan in Louisiana, you can sign up for a Medicare Advantage Prescription Drug plan. (Note that not every Medicare Advantage plan includes prescription drug coverage, so check that the plan you’re considering has this benefit.) Besides any premium the plan may charge, you must pay your monthly Medicare Part B premium.
- If you’d rather stay with Original Medicare, Part A and Part B, you can enroll in a stand-alone Medicare Part D Prescription Drug Plan.
Either type of plan you choose may involve some research on your part. Not only do plans have different premiums and other out-of-pocket costs – but not every plan covers the same list of covered prescription drugs. This list is called a formulary.
It may be a good idea to make a list of your medications and compare it to the formulary of every plan you’re comparing. The formulary may change at any time. You will receive notice from your plan when necessary.
Why would you need Medicare Part D in Louisiana?
You might want to join the more than 600,000 people who have Medicare Part D coverage in Louisiana if you take prescription drugs, or think you might in the future.
Be aware that although this coverage is optional, there’s a Part D penalty you may have to pay if you don’t sign up when you’re first eligible for Medicare. Let’s say you skip Part D coverage when you enroll in Original Medicare. Then, a couple of years down the line, you decide you’d like to get Part D coverage after all. Medicare may add a late-enrollment penalty to your Part D premium. Read more about the Part D late enrollment penalty.
When can I sign up for Medicare Part D in Louisiana?
You can generally enroll in a Medicare Part D Prescription Drug Plan or a Medicare Advantage Prescription Drug plan in Louisiana (or any state) when you’re first eligible for Medicare enrollment.
Missed your first opportunity to enroll in Part D? Don’t worry – you have another chance at least once a year. You can sign up for a Medicare Prescription Drug Plan in Louisiana during the Annual Election Period (October 15 – December 7). Read more about the Annual Election Period.
Some people may qualify for a Special Election Period to enroll in a Medicare Prescription Drug Plan. Follow this link to more details about Special Election Periods.
The formulary may change at any time. You will receive notice when necessary.
This information is not a complete description of benefits. Contact the plan for more information. Limitations, copayments, and restrictions may apply. Benefits, premiums and/or co-payments/co-insurance may change on January 1 of each year.